Cairo: Egypt has signed a deal with oilfield services company Schlumberger to conduct a seismic survey in the Gulf of Suez, the oil ministry said on Wednesday, part of efforts to encourage firms to invest in exploration work in the area. The oil ministry announced an agreement with an international company on Monday to conduct a seismic survey of the Gulf of Suez to attract exploration investment, but did not identify the company and gave no details.
The deal, signed on the sidelines of an energy conference in Cairo, allows Schlumberger to start work on the survey. The ministry did not give the value of the deal. Egypt has been on a drive to attract more investment in its energy sector and speed up production at recent discoveries in order to become gas self-sufficient by the end of 2018.
